ERHC Energy Inc (ERHE)

[RUBY1100]

Claudealain a buyout of a company with 15 Million Proven and 33 Million probable for $2.5 Billion

vs ERHE at current Mkt cap of $350 Million / $0.50 share

if JDZ BL 2&4 have 3 Billion Barrels ...

ERHC assumes a 15% ave. carried interest = 450 Million Barrels

450/33 = 13.636 x $2.5 = $34.09 Billion

$34.09 / 710 MM S/O = $48 a Share

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this is only a comparison for BL 2&4
doesnt inlclude BL 3,5,6,9
doesnt include any Gas Properties
assumes current OIL at $60 [good chance to go higher]

doesnt assume EEZ rights
doesnt assume N-EEZ [potential]

looking out 1-3 years are we undervalued ???

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